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How Digital India and its UPI payment linkage with Singapore? India’s digital identity a business opportunity for Singapore Until a decade ago buying anything without the use of cash was a foreign idea. The growing usage of smartphones, and accessibility to the internet, boosted this revolutionary change and led to a digital transformation across the globe. Today, digital payments have become a common proactive worldwide. Every country has taken a 180-degree turn towards cashless transactions from the traditional cash-dependent economy. India quickly embraced this development and has surpassed the number of cash transactions with easy and secure digital payment methods. These digital methods are now accepted across the country as the primary method to perform any financial transaction. surpassing the number of cash transactions. The growth of digital payments in India India’s focus on digitalization is evident from its Digital India program. It promises high-speed Internet, mobile phones, and bank accounts to every citizen, ensuring real-time services from online and mobile platforms. This is in line with the aim of making financial transactions electronic and cashless and spreading digital literacy in India. Further efforts of the Digital India program boosted the country to achieve the “Faceless, Paperless, Cashless” status and to provide the facility of seamless digital payment in an easy, convenient, quick, and secure manner. In fact, a transformation is underway in the fintech and banking sector with the Unified Payments Interface (UPI) processing more than $ 1 trillion dollars payments in the financial year 2022. The UPI India payments crossed the monthly milestone of 5 billion transactions in March 2022. Options like Bharat Interface for Money-Unified Payments Interface (BHIM-UPI), pre-paid payment instruments (PPIs), Immediate Payment Service (IMPS), and National Electronic Toll Collection (NETC) system have led to substantial growth of the digital India platform and increased the Person-to-Person (P2P) and Person-to-Merchant (P2M) payments. The pre-existing payment modes such as NEFT, RTGS, debit cards, and credit cards have also picked up their speed in the banking and finance sectors. Such an exponential growth of UPI India gateways has created a robust digital finance ecosystem in India. Digital India and changing market trends The digital revolution in India has not only boosted UPI India gateways but also digitized business in various sectors such as e-commerce, fintech, travel, and so on. It has paved way for International business collaborations and led to the growth of the Online Platform Economy (OPE). It has changed the nature of work and the way we do business in the International market. With attractive FDI policies, investment policies, and incentives India has become a choice destination for doing business. Unique strengths like a dynamic business ecosystem, availability of skilled human capital, and increasing technological capabilities have positioned India for higher growth. To read more pleae visit; https://remunance.com/blog/digital-india-and-its-upi-payment-linkage-with-singapore/ [more]
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Top 5 advantages of remote teams as per reputed business articles In the past, businesses and employers had preconceived notions about employing remotely. But these perceptions were changed with the forced implementation of working remotely with the outbreak of the Covid-19 pandemic. Organizations have come to a realization now that employees are more productive working remotely and exceed their deliverables in a remote model. Let us quickly jump on to understanding the advantages of having a remote team, as cited by respected brands and enterprises, especially working greatly in favor of SMEs. We have sourced articles from reputed business articles like Hubspot, Forbes, Harvard Business Review, KPMG case study, Indeed, and Business Standard magazine. We have also cited some examples and case studies conducted by companies like Hubspot, Gitlab, Atlassian, and Ring Central. This comprehensive information will help you in materializing your global expansion plans. Companies emphasizing on a remote team: As a business owner, you no longer need to dwell on thoughts like ‘Is the team actually working? How do I ensure they will complete the allocated tasks for the day or project for the assigned period?’ There are a number of collaborative tools for remote teams that can be used by your company to keep a track of their work and to monitor their operations as well. All you need to do is put the in-house IT wizards to suggest the best collaborative tools and platforms that work best for your remote team model. Let’s take the example of the company Hubspot, which emphasizes- work being a part of your identity and has little relevance with an office setting you go to. Hubspot has been promoting the advantages of remote working since 2012 by quoting: ‘Work isn’t a place we go, but it’s a thing we do” in its Culture Code template. A slide deck that was initially an internal document has now been made available for public viewership and the presentation has gracefully embraced over 5 million views. Various other top-notch companies are promoting remote working as well. Be it Airbnb, Capita plc, Hubspot, Quora, Reddit, Shopify, or Upwork, these names are among the top 25 companies encouraging permanent work-from-home possibilities according to a survey conducted by Flexjobs. What happens when you encourage working remotely? It offers flexibility to the employees of your company. It creates a healthy working environment for them and a good space of mind. Whether it’s in the comforts of their homes or having the privilege of working from anywhere, it makes them feel way more productive and ultimately results in employee retention. To read more visit: https://www.remunance.com/blog/top-5-advantages-of-remote-team/ [more]
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A Professional Employer Organization (PEO) is an excellent starting point for small, medium and growing businesses to venture into a new country. PEO is a company that acts as a legal employer for the employee in another country while the employee works for his actual employer company (Client). As a PEO agency (Remunance) takes care of cost-effective services for HR, payroll, insurance, benefits, and risk management. Remunance goes one step further - in addition to what generally PEO agencies offer, we provide extended services like leave management, recruiting, employee training, office infrastructure and HR support. To know more visit: https://www.remunance.com/ [more]
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